Leasing company Fuel Capital Group is teaching its dealer partners about the benefits of leasing to create better deals and long-term customers through an educational program called Fuel School.
Launched in mid-October, Fuel School is a one-on-one, 15-to-30-minute class between a dealership and a Fuel Capital underwriter wherein the underwriter will coach the dealer on the benefits of a lease and address any questions the dealer may have.
“We have a very structured and documented process on explaining the benefits of leasing for the motorcycle riders themselves,” VP of Dealer and System Development Bryan Reese told Powersports Finance. “In essence, we like to coach our dealers on how they coach their customers. An example of that would be the lower down payment, a shorter finance term, and the ability for the customer to trade in motorcycles with much greater frequency.”
On average, Fuel Capital has found that dealers learn quickly how to structure transactions and close them through the lessor’s entirely digital process, President and Chief Executive Peter Wasmer said. They are capable of building a deal in “a matter of minutes,” but the added benefit of Fuel School is that it provides a way for the customer to understand a lease versus a traditional loan, he added.
Another element of Fuel School is that it includes a series of videos that the lessor created in-house. The video library, comprised of seven videos, is available on a dedicated platform that dealers can access when they log into their regular dealer systems. Dealers can watch the videos at their leisure, and they will receive alerts that track their progress through the series.
“One of the topics, a very popular one as requested by the dealers, is titled Overcoming Objections,” Reese said. “That video really focuses on the talking points that dealers will receive from their customers. It allows the dealer to gain a much better perspective on how to present the mechanics of leasing to their customers, [which allows them] to sell more motorcycles.”
Thus far, Fuel Capital has received positive feedback from dealers who have participated in Fuel School, with an emphasis on the individual attention the lesson provides. The leasing company works with 75 dealers and plans to reach 150 by the end of 2019.